Wedoany.com Report-Dec.16, Fortuna Mining, a Canadian precious metals producer, is actively pursuing mid-tier gold assets and advancing development projects to rebuild toward its annual production goal of 500,000 ounces. This follows the divestment of its Yaramoko mine in Burkina Faso and San Jose operation in Mexico earlier in 2025, according to David Whittle, the company's chief operating officer for West Africa, in an interview on Thursday.

The company has formed new partnerships, including a joint venture with DeSoto Resources for exploration in Guinea's Siguiri Basin and an increased stake in Awalé Resources, a gold exploration firm operating in Côte d’Ivoire. These initiatives reflect broader industry activity driven by elevated gold prices.

"We have a clear organic pathway to restore our 500,000-ounce target through expansions at Seguela in Côte d’Ivoire and Diamba Sud in Senegal," Whittle said, adding that Fortuna was also keeping a "very close eye" on acquisition opportunities to accelerate growth.

Fortuna prioritizes mid-sized operations capable of producing 100,000 to 200,000 ounces annually with a minimum mine life of ten years.

"Any deal must add value, not just ounces. It's country first, region second," he said.

The company maintains approximately $400 million in net cash, providing financial capacity for suitable opportunities. Preference is given to regions where Fortuna already has established operations.

The Séguéla mine in Côte d'Ivoire, which achieved first gold pour in 2023, plays a key role in expansion plans. It is positioned to surpass 2025 guidance with output exceeding 150,000 ounces. Fortuna has commissioned Lycopodium to conduct an option study for increasing plant throughput to 2 to 2.5 million metric tons per year, from the current range of 1.7 to 1.75 million tons.

Progress continues at the Diamba Sud project in Senegal, where environmental approval is anticipated early in 2026. A construction decision is planned for that year, targeting first gold production in early 2028.

West Africa experienced notable consolidation in the gold sector during 2025, such as Atlantic Group's acquisition of Barrick's Tongon mine in northern Côte d’Ivoire and the merger between African Gold and Montage Gold. Additionally, Perseus Mining's A$2.1 billion offer for Predictive Discovery lapsed after Robex Resources presented a superior proposal for the Guinea-focused explorer.

Whittle noted that governments in the region continue to support mining investments.

"Ivory Coast and Senegal offer permitting timelines of four to five years from resource to first gold... - far faster than Canada or the U.S."